The fact of the matter is that because you have to lay a horse for so much more than what it is worth on the totes, then you could back every other horse in the race at best odds, and it would be just as financially viable as laying a horse.

All this talk about Vengo. Well the thing is, it was a $2.4 horse. It was always going to lose more times than it would win. And $70,000 traded on it, so what. If this horse was a certainty, well no horse ever is.
I remember seeing about $300,000 traded on Gonski running around at about $1.5. Yes it got rolled, in a 5 horse field. I backed it, but am I crying foul? No. Although I had traded the $80 winner for a handy little profit....


And I think that what they are trying to do to make it illegal is to charge a fee for the rights to betting on certain events. Every state in mainland is looking into this now, with the plan of having Betfair legal, but for them not to be able to offer markets for any of the mainland racing. All they can do is charge a fee, which I am sure Betfair will be more than happy to pay. I think Betfair if it is given the go ahead, will be here to stay.